IN BRIEF: Nexteq hails "positive signpost" of new Densitron order

Nexteq PLC - Cambridge, England-based technology solutions provider to industrial markets - Display and human machine interface technology brand Densitron secures new order from an unnamed new customer, who is "a leading supplier of automotive electronics". Nexteq says the contract incorporates customised display engineering and specification refinement to meet the customer's display and interface requirements, and expects production to start in the second half of this year. Adds that it expects production volumes "to materially increase in the following three years as the customer's product rollout expands."

Chief Executive Officer Duncan Faithfull comments: "This order is a strong demonstration of Densitron's ability to deliver tailored engineering solutions that address customers' specific technical requirements...This new customer diversifies our end-market exposure and supports our strategy of growing revenue across a broader range of industrial vertical markets through higher-quality, differentiated technology solutions.

"Importantly, this provides a clear pathway to increasing production volumes as the customer moves towards mass production, creating a platform for future revenue growth in the automotive and transportation sector, and a potentially meaningful, long-term customer relationship. It is a positive signpost of the success of our strategy: expanding into new industrial markets, winning customers through our engineering capabilities, and building confidence as a trusted partner for outsourced, technically differentiated solutions."

Current stock price: 52.00 pence, up 16% in London on Wednesday

12-month change: down 29%

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